Kymera Therapeutics (KYMR) PT Lowered to $52 at Oppenheimer

Oppenheimer analyst Jeff Jones lowered the price target on Kymera Therapeutics (NASDAQ: KYMR) to $52.00 (from $53.00) while maintaining a Outperform rating.

The analyst commented: "On Thursday KYMR reported 1Q results and provided extensive detail on plans and timing of upcoming events across the portfolio, which we summarize below. In the near term we are focused on STAT6 and the associated preclinical update at ATS in a few weeks, as well as upcoming data for the oncology programs at ASCO and EHA in June. KYMR reported operating expenses of $68M, slightly higher than OPCO/consensus estimates of $64.5/$66.1M offset by $10.3M in collaboration revenues. The company reported 1Q ending cash of $745M, which remains sufficient to comfortably support operations into 1H27. We update our model for actuals, including adjusting the share count driving a $1 change in our PT to $52. Reiterate Outperform."

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